{"id":199209,"date":"2022-06-27T06:02:22","date_gmt":"2022-06-27T05:02:22","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=199209"},"modified":"2022-06-27T06:02:22","modified_gmt":"2022-06-27T05:02:22","slug":"nuprc-we-will-issue-marginal-oil-field-licences-to-winners-tuesday","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/06\/27\/nuprc-we-will-issue-marginal-oil-field-licences-to-winners-tuesday\/","title":{"rendered":"NUPRC: We will issue marginal oil field licences to winners Tuesday"},"content":{"rendered":"<p>The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that it will issue petroleum prospecting licences (PPL) to successful awardees of marginal fields in the 2020 bid round.<\/p>\n<p><span data-preserver-spaces=\"true\">Marginal fields are smaller oil blocks developed by indigenous companies not exploited in the last ten years.<\/span><\/p>\n<p>Recall that\u00a0<span data-preserver-spaces=\"true\">NUPRC had said it was targeting June for marginal field awardees to begin the field development plan (FDP).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a statement over the weekend, Gbenga Komolafe, chief executive officer (CEO), NUPRC, announced that the event marking the issuance would be held on Tuesday in Abuja.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In May 2021, the Department of Petroleum Resources (DPR) \u2014 now <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/04\/06\/thefts-account-for-six-month-oil-production-reps-order-nuprc\/\">NUPRC<\/a> \u2014 completed the first successful<\/span><span data-preserver-spaces=\"true\">\u00a0bid programme after 18 years.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Over 600 companies had applied to be pre-qualified for the bid rounds of 57 marginal fields, which began on June 1, 2020.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Komolafe said the event would also witness the unveiling of the implementation template for the Host Communities Development Trust Fund for the commencement of the provisions under section 235 of the Petroleum Industry Act (PIA).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said this would help quell restiveness in the host communities.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The NUPRC CEO emphasised that it would provide an enabling environment for sustainable development of the country\u2019s hydrocarbon resources.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThese will mark the conclusion of some of the most urgent and critical tasks inherited by the commission when it was inaugurated in October 2021, after the signing into law of the PIA 2021,\u201d he said.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the commission had informed all participants in the 2020 marginal field bid round programme about its conclusion in line with the PIA 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIn furtherance of that resolution, the commission constituted an in-house work team to distil and address the concerns of awardees with a view to close-out issues affecting multiple awardees per asset and formation of Special Purpose Vehicles (SPV) by awardees in line with the respective letters of the award,\u201d he said.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAwardees were, therefore, enjoined to avail themselves of the resolution mechanism provided by the commission in the overriding national interest.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The NUPRC boss said the successful coordination and resolution of the issues resulted in the emergence of the successful awardees that would be handed licences this week.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that it will issue petroleum prospecting licences (PPL) to successful awardees of marginal fields in the 2020 bid round. Marginal fields are smaller oil blocks developed by indigenous companies not exploited in the last ten years. Recall that\u00a0NUPRC had said it was targeting June for marginal [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":199218,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[24234,40807,33547,40808],"class_list":["post-199209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-gbenga-komolafe","tag-marginal-oil-fields","tag-nuprc","tag-oil-blocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NUPRC: We will issue marginal oil field licences to winners Tuesday<\/title>\n<meta name=\"description\" content=\"The Nigerian Upstream Petroleum Regulatory 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